SoftBank-Backed Genetic Testing Invitae's Descent from $7B Valuation to Near-Bankruptcy

Published on 8 Feb 2024 on Benzinga via Yahoo Finance

SoftBank-Backed Genetic Testing Invitae's Descent from $7B Valuation to Near-Bankruptcy

Invitae Corporation (NYSE:NVTA), backed by SoftBank Group (OTC:SFTBY) (OTC:SFTBF), is reportedly on the brink of filing for bankruptcy in the coming weeks.

The San Francisco-based medical genetics company, grappling with a substantial $1.5 billion debt burden, is enlisting the expertise of restructuring advisers from FTI Consulting and legal counsel from Kirkland & Ellis to navigate its financial challenges.

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SoftBank-Backed Genetic Testing Invitae's Descent from $7B Valuation to Near-Bankruptcy

NYSE.NVTA price evolution

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